PointsBet gets hammered on "Pointsbetting" $35k Ravens bet

[newton0038]

https://www.espn.com/chalk/story/_/id/27573772/notable-bets-30k-bet-ravens-turns-600k-payday

I haven't seen this offered since Good ole Gameday.com. My first book

[bonzaii]

Bookmaker PointsBet offers a unique way to bet on the NFL. They call it "PointsBetting," a high-risk, high-reward wager that the bookmaker pioneered in Australia and brought to the U.S. last summer.

It works like this: For every point a team covers the spread by, the initial stake multiplies. If you place a $5 "PointsBetting" wager on Team A -3, and Team A wins by 10 points, you win $35 (7 points times $5 per point above which the team covered the spread). Bettors have the option of setting the limits on a maximum win or loss, up to 50 times the initial wager.

On Sept. 1, a "sharp client" placed the largest "PointsBetting" wager the book has taken since arriving in New Jersey: A $30,000 bet on the Baltimore Ravens -6 against the Miami Dolphins. The bettor chose to set the maximum win/loss at 20 times their initial wager.

The Ravens won 59-10 on Sunday, and the bettor won $600,000.

Pretty good read. Crazy you can win that much off on single selection. Guy would have won almost 1.3 million if he set his win/loss higher.

[Optional]

Ha. I bet there is 100 horror stories about losing way more than expected than there is about big surprise winners when it comes to Spread Betting.

[biggie12]

Ha. I bet there is 100 horror stories about losing way more than expected than there is about big surprise winners when it comes to Spread Betting.

B.i.n.g.o

[Optional]

B.i.n.g.o

Not a fire you want to play with.

Better to play crazy parlays if you want a shot at a lottery size payout.

At least you can't lose a lottery win size amount that way, and just as much chance of winning one.

[bonzaii]

Not a fire you want to play with.

Better to play crazy parlays if you want a shot at a lottery size payout.

At least you can't lose a lottery win size amount that way, and just as much chance of winning one.

Why don't more books offer it than?

[Optional]

Why don't more books offer it than?

I don't know. Has always seemed to be an offshoot sort of betting option in Aus and UK.

More associated with stock and currency betting sites than sports in the past.

[Gaze73]

I should get into spread betting, yesterday I had Vikings -3 as my best bet and they won 28-12 after a 28-0 Q3 score. If you wait for your opportunity and know what you're doing then it offers massive value. Vikings -15.5 paid only +425 at some books but a spread bet would've paid +1200.

[Shifty]

Pointsbet's regular sportsbook isn't that great. Sure, they'll take a bet on NFL but try to get down on any small market they'll limit you to $100-200. Every bet is subject to approval. You could wait 2 minutes before your bet is accepted or cut back.

[PD77]

https://www.espn.com/chalk/story/_/i...ns-600k-payday


I haven't seen this offered since Good ole Gameday.com. My first book

WSEX.com used to offer spreadbetting and they paid interest on your balance too! Ahh the good ole days.

[Itsamazing777]

Pointsbet's regular sportsbook isn't that great. Sure, they'll take a bet on NFL but try to get down on any small market they'll limit you to $100-200. Every bet is subject to approval. You could wait 2 minutes before your bet is accepted or cut back.

pathetic really they vet your bet like that

[jjgold]

just a promotional thing

Probable was a link to an employee if you investigated

They are not doing well, too many books in NJ to compete

[moojoo]

Can somebody explain to me,first time i hear about PointsBetting.
He bet 30k but he could lose 600k if Miami destroyed Ravens somehow?
If yes,where is guarantee he would pay remaining debt?

[fastfastrfastest]

Can somebody explain to me,first time i hear about PointsBetting.
He bet 30k but he could lose 600k if Miami destroyed Ravens somehow?
If yes,where is guarantee he would pay remaining debt?

If the bets as straight forward as it appears then yes he could end up on the hook for $600,000. Guy either has great cred with the book, has an extremely high balance with them or provided a financial guarantee. Either way, well done.

[asiagambler]

Basically like leveraged trading. Popular in the UK.

This doesn't sound realistic though as you would have to have enough to cover losses in your balance.

[SBR Tony]

Why don't more books offer it than?

I posted about this earlier in the year.

most books got killed offering action points and it was used mostly in the NBA

[LT Profits]

Can somebody explain to me,first time i hear about PointsBetting.
He bet 30k but he could lose 600k if Miami destroyed Ravens somehow?
If yes,where is guarantee he would pay remaining debt?

He has to have at least 660,000 balance posted up already.

[jjgold]

Some offshore books used to offer action points and got rid of it like many said in the UK this is hugely popular


Two leading firms are spreadex and sportingindex

[Bluehorseshoe]

Some offshore books used to offer action points and got rid of it like many said in the UK this is hugely popular


Two leading firms are spreadex and sportingindex

I think Cris still has them. You have to call in for them.

(Also called lightning bets)

[DontTailMe]

Sounds almost identical to the "lightning bets" Artie used to tell stories about with Norm MacDonald on Howard Stern.

[jjgold]

You’ll get buried betting action points

[cincinnatikid513]

bet if u just bet the patriots every game u would do very well the last 10 years